GeoPark Ltd | CIK:0001464591 | 3

  • Filed: 4/12/2018
  • Entity registrant name: GeoPark Ltd (CIK: 0001464591)
  • Generator: DataTracks
  • SEC filing page: http://www.sec.gov/Archives/edgar/data/1464591/000114420418020167/0001144204-18-020167-index.htm
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    • ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory

    Note 29
    Trade and other payables
     
    Amounts in US$ '000
     
    2017
     
    2016
     
    V.A.T
     
     
    1,118
     
     
    1,102
     
    Trade payables
     
     
    52,557
     
     
    23,650
     
    Payables to related parties (a) (Note 33)
     
     
    31,184
     
     
    27,801
     
    Customer advance payments (Note 3)
     
     
    10,000
     
     
    20,000
     
    Staff costs to be paid
     
     
    9,143
     
     
    7,749
     
    Royalties to be paid
     
     
    4,110
     
     
    1,503
     
    Taxes and other debts to be paid
     
     
    4,191
     
     
    3,355
     
    To be paid to co-venturers (Note 33)
     
     
    10,015
     
     
    1,614
     
     
     
     
    122,318
     
     
    86,774
     
    Classified as follows:
     
     
     
     
     
     
     
    Current
     
     
    96,397
     
     
    52,008
     
    Non current
     
     
    25,921
     
     
    34,766
     
     
    (a)The outstanding amount corresponds to advanced cash call payments granted by LGI to GeoPark Chile S.A. for financing Chilean operations in TdF’s blocks. The expected maturity of these balances is July 2020 and the applicable interest rate is 8% per annum.
     
    The average credit period (expressed as creditor days) during the year ended 31 December 2017 was 95 days (2016: 83 days)
     
    The fair value of these short-term financial instruments is not individually determined as the carrying amount is a reasonable approximation of fair value.